Su-Jane Chen

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Su-Jane Chen

Professor of Finance

College of Business

Bio

Su-Jane Chen received her Ph.D. in Finance from the University of Missouri-Columbia. Before joining MSU Denver, she was a tenured finance faculty at the University of Wisconsin-Ear Claire. Professor Chen’s research interest in behavioral finance, capital budgeting, credit union industry, international finance, IPOs, REITs, and security pricing has led to numerous refereed journal publications and conference presentations. She served for 19 years, 2002-2021, on a Colorado credit union’s board of directors, which aligned well with her research and teaching interests in corporate finance.

Degree

PhD in Finance

University of Missouri

MBA

University of Missouri

BBA in

National Chengchi University

Published Works

  • Chen, S. (2024). Beta convergence and sigma convergence of key financial ratios post the Great Recession: community banks vs. non-community banks. Economics Bulletin, 43(2), 922-933. http://www.accessecon.com/Pubs/EB/2023/Volume43/EB-23-V43-I2-P74.pdf.
  • Chen, S. (2023). Utilizing the Financial Calculator for Graduated Annuities: Reconciling Present Value, Future Value, Compound Rate, and Discount Rate. 62nd Annual Southwestern Finance Association (SWFA) Conference, https://www.swfinance.org/2023proceedings
  • Chen, S., Fayman, A., Mayes, T. (2023). U.S. Community Banks post the 2008 Financial Crisis: A Logit Regression Analysis. International Journal of Finance & Banking Studies, 12(1), 10-20. https://doi.org/10.20525/ijfbs.v12i1.2366.
  • Fayman, A., Chen, S., Mayes, T. (2022). Community Banks versus National Banks: post the Great Recession. Economic Notes-Review of Banking, Finance and Monetary Economics, 51(2). .
  • Fayman, A., Chen, S., Mayes, T. (2022). Elimination of the Reserve Requirement: Impact on Liquidity at Community Banks vs. Non-Community Banks. Managerial Finance, 48(6), 939-952. https://doi.org/10.1108/MF-09-2021-0441.
  • Chen, M., Chen, S., Kot, H., Zhu, D., Wu, Z. (2021). Does Gender Diversity Matter to Hotel Financial Performance?. International Journal of Hospitality Management, 97 https://doi.org/10.1016/j.jihm.2021.102987.
  • Fayman, A., Chen, S., Camp, L. P. (2019). The New Face of Commercial Banking. Banking and Finance Review, 11(1), 31-58. .
  • Chang, T. D., Chen, S., Gu, H., Jiang, A. (2018). A Market Volatility Analysis of the Shanghai-Hong Kong Stock Connect Program. International Journal of Business and Economics, 17(2), 113-121. www.ijbe.org/.
  • Chen, S. (2017). Does Size Matter? Economies of Scale in the Credit Union Industry. International Journal of Trade, Economics and Finance, 8(6), 258-262. http://www.ijtef.org/index.php?m=content&c=index&a=show&catid=88&id=916.
  • Chen, S., Chen, M., Wei, H. (2017). Financial Performance of Chinese Airlines: Does State Ownership Matter?. Journal of Hospitality and Tourism Management, 33(December 2017), 1-10. https://doi.org/10.1016/j.jhtm.2017.08.001.
  • Chang, T. D., Kong, W., Chen, S. (2017). The Moderating Role of Environmental Concerns in Travel Behaviour: An Exploratory Study. Journal of China Tourism Research, 13(2), 193-210. https://doi.org/10.1080/19388160.2017.1353471.
  • Chen, S. (2017, May). Does Size Matter? Economies of Scale in the Credit Union Industry. 2017 International Conference on Financial Technology.
  • Gu, H., Jiang, A., Chen, S., Chang, T. D. (2016). The Market Anticipation Effect of the Shanghai-Hong Kong Stock Connect: A Risk Analysis. Global Business and Finance Research Conference ,
  • Chen, S. (2016). College Costs, Freshman Enrollment, and Student Quality: Evidence from an Urban State University. International Journal of Information and Education Technology, 6(9https://www.digitalmeasures.com/login/msudenver/file/survey/ui/showFile?file=Y2hlbnMvaW50ZWxsY29udC9JbnRlcm5hdGlvbmFsIEpvdXJuYWwgb2YgSW5mb3JtYXRpb24gYW5kIEVkdWNhdGlvbiBUZWNobm9sb2d5IEhvbWUgUGFnZSBDYWJlbGxzIEluZGV4ZWQgMDMxMTE1LTEucGRm&surId=2876764&nodeId=817995&sdId=66797812&sdSurId=2876764&summary=true&sgntr=XcCyE%2BhetaUk7Ovdr4kTTw20jTw%3D), 664-671. https://doi.org/10.7763/IJIET.2016.V6.771 .
  • Chang, T. D., Chen, S. (2016). A Comparative Analysis of Service Quality and Marketing Orientation. 2016 International Conference on Innovation and Management,
  • Chang, T. D., Kong, W., Chen, S. (2015). The Moderating Effects of Environmental Concerns on International Travelers’ Souvenir Shopping Behavior and Travel Experience. SIBR Conference Proceedings,
  • Chen, M., Chen, S., Wei, H. (2015). The Impact of State Ownership on the Financial Performance of Chinese Airlines. International Conference on Business, Information, and Service Science (ICBIS) 2015,
  • Chen, S. (2014, August). The Impact of Rising College Tuition on Freshman Enrollment: Evidence from a State University. 2014 International Conference on Business, Information, and Cultural Creative Industry.
  • Chen, S. (2014). Member Orientation of the U.S. Credit Union Industry: Post-2008 Evidence. Journal of American Academy of Business, Cambridge, 19(2), 66-73. .
  • Chang, T. D., Chen, S. (2013). Testing the Direct Market Orientation-Performance Relationship: The Case of Stock Brokerage Firms. Journal of Advanced Management Science, 1(2), 246-249. https://doi.org/10.12720/joams.
  • Chen, S. (2013). Price Effect on Freshman Enrollment at a Public University: Absolute Price vs. Relative Price. International Congress on Social Sciences and Business,
  • Chen, S., Chen, M. (2012). Timing the Taiwan Stock Market: Simple Rotation vs. Sector Rotation. Journal of American Academy of Business, Cambridge, 18(1), 310-317. .
  • Chen, S., Mayes, T. (2012). A Note on Capital Budgeting: Treating a Replacement Project as Two Mutually Exclusive Projects. Journal of Financial Education, 38(Spring/Summer 2012), 56-66. .
  • Chen, S., Chen, M. (2011). Does Market Timing Make Sense in Taiwan? . The11th International DSI and the 16th APDSI Joint Meeting,
  • Chang, T. D., Chen, S. (2011). Service Quality and Business Performance: The Role of Organizational Factors. The 2011 International Joint Conference on Service Sciences,
  • Chen, S., Chen, M. (2011). Market Timing vs. Buy and Hold: Empirical Evidence from Taiwan. Annual Conference of the Southwestern Finance Association,
  • Chen, S., Dempere, M. J. (2011). Does Corporate Governance Affect Target IPO Bank Returns Surrounding M&A Announcements?. International Journal of Trade, Economics, and Finance, 2(1), 72-77. .
  • Chen, S., Dempere, M. J. (2010). Corporate Governance and Target IPO Bank Returns Surrounding M&A Announcements. 2010 International Conference on E-Business, Management and Economics,
  • Chen, S., Chen, M. (2010). The Underpricing of Initial Public Offerings in the Chinese Tourism Industry. Tourism Economics, 16(3), 647-663. .
  • Chen, S., Chen, M. (2009). Discount Rate Changes and Market Timing: A Multinational Study. Annals of Economics and Finance, 10(2), 329-349. .
  • Chen, S., Dempere, M. J. (2009). Do Corporate Governance Characteristics Affect M & A Decisions for Banks?. Journal of Global Business and Technology , 5(1), 42-55. .
  • Chen, S., Mayes, T. (2008). A Note on Capital Budgeting: Treating a Replacement Project as Two Mutually Exclusive Projects. Annual Conference of the Financial Education Association,
  • Chen, M., Chen, S., Yen, M., Shen, Y. (2008). Lottery Premium in the Taiwan Stock Market . Asia Pacific Management Review, 13(2), 545-556. .
  • Chen, M., Chen, S., Liao, C., Lin, C. (2008). Taiwanese Mutual Fund Performance under Different Central Bank of China Monetary Policy Environments. Emerging Markets Finance and Trade, 44(2), 100-116. .
  • Chen, M., Chen, S., Shen, Y. (2007). Reexamination of Lottery Premium: Empirical Evidence in Taiwan. Annual Conference of the Western Decision Sciences Institute,
  • Chang, T., Chen, S. (2007). The Effects of Management Behavior and Collaboration on Marketing Effectiveness and Financial Performance. Annual Conference of the Western Decision Sciences Institute,
  • Chang, T. D., Chen, S. (2007, April (2nd Quarter/Spring)). The Effects of Management Behavior and Collaboration on Marketing Effectiveness and Financial Performance. 36th Annual Meeting of the Western Decision Sciences Institute.
  • Chen, M., Chen, S., Kuo, Y. (2007). The Critical Role of Monetary Policy in the Link between Business Conditions and Security Returns in Taiwan. Asia Pacific Management Review, 12(1), 1-12. .
  • Yu, H. T., Wang, H. D., Chen, S. (2006). A Fuzzy Logic Approach to Modeling the Underground Economy in Taiwan. Physica A, 362(2), 471-479. .
  • Chen, S., Chang, H. T., Yu, H. T., Mayes, T. (2005). Firm Size and Book to Market Equity as Risk Proxy in Investment Decisions. Management Research News, 28(4), 1-24. .
  • Chen, M., Chen, S., Cho, Y. (2005). The Impact of Monetary Policy on Taiwan Security Returns. Annual Conference of the Academy of Financial Services,
  • Chen, S., Hui-Kuang Yu, T., Chang, T. (2004). Economic Forces and Size Effect. Annual Conference of the Academy of Financial Services,
  • Chen, S., Chang, T. D. (2003). A Descriptive Model of Online Shopping Process: Some Empirical Results. Service Industry Management, 14(5), 556-569. .
  • Chen, S., Mayes, T., Chang, T. (2003). Firm Characteristics, Macrovariables, and Investment Implications. Annual Conference of the Academy of Financial Services,
  • Chang, T. D., Polsa, P., Chen, S. (2003). Manufacturer Channel Management Behavior and Retailers' Performance: An Empirical Investigation of Automotive Channel. Supply Chain Management: An International Journal, 8(2), 132-139. .
  • Chen, S., Hsieh, C., Vines, T., Chiou, S. (1998). Macroeconomic Variables, Firm-Specific Variables, and Real Estate Investment Trusts. Journal of Real Estate Research, 16(3), 269-277. .
  • Chen, S., Hsieh, C., Jordan, D. B. (1997). Real Estate and the Arbitrage Pricing Theory: Macrovariables vs. Derived Factors. Real Estate Economics (Journal of the American Real Estate and Urban Economics Association), 2505-523. .
  • Chen, S., Jordan, D. B., . (1993). Some Empirical Tests in the Arbitrage Pricing Theory: Macro-Variables vs. Derived Factors. Journal of Banking and Finance, 17, 1993(February), 65-89, abstracted by Jan R. Squires and published in The CFA Digest,
  • Chen, S., Jordan, D. B. (1993). Some Empirical Tests in the Arbitrage Pricing Theory: Macro-Variables vs. Derived Factors. Journal of Banking and Finance, 175-89. .
  • Akella, R. S., Chen, S. (1990). Interest Rate Sensitivity of Bank Stock Returns: Specification Effects and Structural Changes. Journal of Financial Research, 47-154. .